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US Dollar remains relatively strong against the Yen despite risk-on sentiment – USD/JPY Market Outlook – 19/05/2020


The greenback remains relatively strong against the Yen despite the broad US Dollar sell-off across the board. The Dollar/Yen traders remain in a risk-off mood as they seem to disregard so far any news regarding the potential new vaccine, their focus remains on headlines such as the US-China tension and the US President Donald Trump’s threats to the WHO organization. From a technical perspective, price remains stuck between the 50 and the 200-period SMAs, a clear break to either side will likely decide the pair’s next possible destination.

Support: 106.75 / 106.50
Resistance: 107.70 / 108

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/us-dollar-remains-relatively-strong-against-the-yen-despite-risk-off-sentiment-usd-jpy-market-outlook-19-05-2020
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